Category: Bitcoin

This will help you understand here: https://themerkle.com/what-is-the-flippening/
However, I’m going to quote from Hacked.com 23/5/2017:
The total value of the coin market is now at $80 billion, as the last two days added almost $10 billion to the capitalization. Bitcoin almost doubled since breaking out to new highs a month ago, but its market share is now only 46%, proving just how strong the recent weeks have been to cryptocurrencies.

Now I’m going to show you a screenshot from Cryptocurrency Market Capitalization 24/3/2017:

If you look at the top of that picture you’ll see bitcoin had (2 months ago) 68.2% of the market cap of the total market of $23 Billion.

The simple thing here is that the market is leveling out and this could not have happened without a real player (Ethereum) coming to the market.

Initially, for me, without a credit card and living in Hong Kong (where it seems incredibly slow uptake to the rest of the world) my biggest problem was how could I buy in. It took until an extortionate exchange at a bitcoin ATM allowed to get my hard earned into virtual currency.

I’d tell me friends and family about this and the biggest fear I would hear from them about my investment in cryptographic-currency was “so how do you get your money out?”

I was looking at https://www.bitfinex.com/ and then I heard that Wells Fargo bank had made it difficult for you to remove your money this way, more here …

https://www.okcoin.cn seems to give a solution to this problem in Chinese RMB, but it appears (so far, from my investigation) that you need a China ID to open an account (along with a China Bank account or Alipay account).

If you can actually spend your coins on real things then getting your money out is as easy as buying what you want to buy with your digital currency. So looking at spending your coins through VISA could be a game changer:

Likewise, https://www.cryptowoo.com/ enables traders to sell goods on their websites using digital currency, so those that want to cash out, can just buy what they want from traders using this. Read more about this here …

List of Companies Who Accepts Bitcoins as Payment!

Many companies are accepting bitcoins, many are not. Here is a list of the biggest (and smaller) names who accepts bitcoins as a currency.

WordPress.com – An online company that allows user to create free blogs

Overstock.com – A company that sells big ticket items at lower prices due to overstocking

Subway – Eat fresh

Microsoft – Users can buy content with Bitcoin on Xbox and Windows store

Reddit – You can buy premium features there with bitcoins

Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline

You need to get yourself a coin wallet or a trading account, because what you will do is go to a service that allows you to put in fiat cash and you get out bitcoins, you need to put those bitcoins somewhere.

Here are some wallet options (let us know if you have some others you like, have had suggested or have heard about) :

I registered an account here: https://www.coinmama.com/ you have to put in nyour details and send them a selfie of you and your passport to prove you are who you say you are and then they ask you to send a selfie of you and your mastercard.

Scroll down and choose the amount you want to buy (easier to work it out in euros or dollars, rather than Bitcoins)

Then click “Buy Bitcoins”

It will take you to the next page that will ask you your method of payment.

I think it will be “Credit/Debit card via simplex”.

It will then ask you for a bitcoin wallet address, you will find this in your chosen bitcoin wallet or in your Poloneix trading account you’ll find it under balances > Deposits and withdrawals you then go down the list, find bitcoin, click “Deposit” and it will show you your bitcoin deposit address (here in yellow) eg:

Note !!!!!! This address is ONLY for depositing BITCOINS!

You then click complete payment and follow the instructions through to the end.

You will get an email from them, asking you to confirm the Wallet address, go to your email and click confirm.

Payment should be 5 minutes and you’ll have bitcoins. (or they may send you an email asking you for more information about you, which is normal the first time.)

BUY LOW / SELL HIGH

What I’ve noticed!

When you look at the chart and you see a massive spike in volume of trades.

If people are buying the price goes up! More people buying is a serious show of interest from people, if you can see the volume spike before the price hike, you should be “quids in”!

However, this requires impeccable timing and a lot of time looking at relative trade volumes.

When bitcoin goes up, everything else goes up.

For the most part when bitcoins price rises (to new highs), all the other alt coin prices rises (mostly). When bitcoins price goes up (to new highs), this is new money into the industry, this is more money in the market, real investment.

Bitcoins are the gateway from fiat to crypto, so even if (which I believe is often the case at the time of writing) investors want to buy Ether, they must first buy Bitcoin before they can make the trade. This is the same for all measure of other coins, so the market becomes much like squeezing a balloon, where the market deflates at one side, it will inflate on the other. There are really not many places where this can happen in this market, so you can (if you watch closely) where the money is moving to and from.

If you see bitcoins price going up after a down, not to new highs, but just to previously attained prices, we will probably see other coins prices going down, where money is moving from one coin back to bitcoin as the “safe heaven”.

It is easier to put money into crypto-currency than to take it out, so I feel that a lot of people (the majority of the market) that have gone in to it, are there for the long haul rather than jumping in and out of crypto to fiat.

Get into the tech’s philosophy before the monetary investment.

If you believe in the project that has been created to solve a real problem, the chances are you are one of the early adopters to the philosophy. If it’s a good one, then others will buy in. What makes this coin different to the next?

All crypto-currency is relatively new, any investment makes you an early adopter (no it’s not too late, there’s loads of new projects).

(Exactly why I got into Ethereum and no all of this.)

Watch previous peaks and troughs and see where it stands now.

If you look at a lot of coins (many not much more than one or two years old) you can see their entire life on the market. When it was high and when it was low. There’s nearly always some spike near the beginning, usually associated with an ICO. What often follows is down turn where initial investors (market traders) have made some profit and have pulled their money out.

What happens next (or not) is investment from those who actually believe in the tech and see the value in it’s development and longevity. If this happens you will see a steady price rise over time and then some bumps here and there where “investors” have jumped in and out.

If this tech has a long term vision and an actual “product’ in the making (which can be discovered with some good research) then you know that 1) it’s always capable of reaching the price of it’s highest previous price. 2) if the price dips below a long term average (and it ticks all your belief boxes) then it’s time to buy.

Predicting the ups and downs with the MACD

At last MACD means something better than crap fast food.

This stands for the Moving Average Convergence Divergence, if you head on over to Poloniex and click on any coin, you’ll see it price chart that shows it value over time and volume of sales over time. Under this is the MACD, two lines that plot the average values over time. One line represents the long term moving average and the other the short term moving average.

When the long term moving average moves above the short term moving average it usually indicates a price rise and vice versa.

What you are therefore looking for is when the lines are going to cross (You know, like in Ghostbusters, you cross the streams and everything blows up.)